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  4. Expensify Tumbles on Big EPS Miss, Analyst Says Weakness Offers Attractive Opportunity
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Expensify Tumbles on Big EPS Miss, Analyst Says Weakness Offers Attractive Opportunity

By Senad Karaahmetovic Shares of Expensify (NASDAQ:EXFY) have tumbled nearly 14% in premarket trading after the software company reported weak Q2 results. EXFY reported revenue...
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Expensify Tumbles on Big EPS Miss, Analyst Says Weakness Offers Attractive Opportunity © Reuters. Expensify Tumbles on Big EPS Miss, Analyst Says Weakness Offers Attractive Opportunity

By Senad Karaahmetovic

Shares of Expensify (NASDAQ:EXFY) have tumbled nearly 14% in premarket trading after the software company reported weak Q2 results.

EXFY reported revenue of $43.2 million, missing the estimate of $44 million. More importantly, the company reported a loss per share of $0.10, which is much worse than the analyst estimate that called for a profit of $0.09 per share.

The company maintained its long-term guidance of 25-35% revenue growth over a multi-year period.

A BMO analyst said Q2 results were “not enough” as the company was facing tough comps. Still, the analyst sees EXFY shares supported by the company’s profitable growth over the medium term.

A Bank of America analyst hiked the price target by $1 to $26 after witnessing “good” results. He says the company delivered "good Q2 results" with shares weakness in after-hours trading seen as a "particularly attractive opportunity."

“Bears may pick on the revenue miss, but we remind investors that Expensify does not provide quarterly guidance. With the business displaying a Rule of 49 profile in Q2 (22% GAAP rev growth + 27% EBITDA margins), we think the results support our long-term thesis that the business has the potential to drive an attractive growth and profitability profile in high growth and slow growth scenarios, which is an positive investment trait,” the analyst explained to investors in a note.

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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